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347 Main Poughkeepsie CBD 347 Main St 33,421 SF 74% Leased Retail Building Poughkeepsie, NY 12601 $4,400,000 ($131.65/SF)
Investment Highlights
- Located in future Downtown Business Improvement District - Poughkeepsie, N.Y. - Dutchess County's Seat
- Historic Bank Building with Oversized Lot
- Cash-Flowing Asset with Leasing and Development Upside
- City of Poughkeepsie: 2025 Winner $10,000,000 NYS Downtown Revitalization Grant
- Federal Opportunity Zone Benefits Available
- Investment-Grade Tenant (US Government)
Executive Summary
The subject property includes one of three federal bankruptcy courthouses in the Southern District of New York, guaranteed by the United States Government (S&P Credit Rating: AA+). The lease commenced in 2005 and was recently extended for an additional 10 years thru 2034.
Though some of the 80+ surface lot parking spaces are dedicated to the court, a large majority of the lot could be developed into an apartment building or hotel with up to 7 stories.
***PENDING 20YR LEASE FOR 6,397SF WITH MEDICAL PROVIDER
***ASSUMABLE 5.4% MORTGAGE
Financial Summary (Pro Forma - 2027) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2027) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Suite 1B is a 2,440SF office space with mostly open floorplan with a private office, restrooms and boardroom. Currently partially demolished, owner will build to suit for long-term tenant. Front entrance on Catherine Street, with private employee entrance off the parking lot.
347 Main Poughkeepsie Suite 1F is a former bank space (yes, still has the vault!) that was most previously used as a medical administrative office. It's mostly open floorplan with five private offices, a large boardroom, private restrooms and basement storage. Needs some light repair here and there, but move-in ready for the most part. Owner will build to suit.
| Space | Size | Space Use | Position | Available |
| 1B | 2,440 SF | Office | - | Now |
| 1F | 6,397 SF | Office | - | Now |
1B
| Size |
| 2,440 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
1F
| Size |
| 6,397 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
1B
| Size | 2,440 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
Suite 1B is a 2,440SF office space with mostly open floorplan with a private office, restrooms and boardroom. Currently partially demolished, owner will build to suit for long-term tenant. Front entrance on Catherine Street, with private employee entrance off the parking lot.
1F
| Size | 6,397 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
347 Main Poughkeepsie Suite 1F is a former bank space (yes, still has the vault!) that was most previously used as a medical administrative office. It's mostly open floorplan with five private offices, a large boardroom, private restrooms and basement storage. Needs some light repair here and there, but move-in ready for the most part. Owner will build to suit.
Nearby Major Retailers
Property Taxes
| Parcel Number | 131300-6162-78-146072-0000 | Improvements Assessment | $3,349,000 (2024) |
| Land Assessment | $151,000 (2024) | Total Assessment | $3,500,000 (2024) |
Property Taxes
Presented by
347 Main Poughkeepsie CBD | 347 Main St
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